Why Buy New?

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When you’re looking to buy a
new home, there are times
when things can start to seem
like an impossible dream.
But fear not. Buying a new home
gives you a number of options
that can make the ultimate goal of
home ownership more affordable
and completely achievable.
HELP TO BUY
Help to Buy is the incredibly
popular Government-backed
initiative designed to help people
buy a home. So far, nearly 50,000
house hunters have taken
advantage of it to help them
take their first or next step on
the property ladder.
And it’s not just one scheme.
There are a range of options
available through Help to Buy,
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buyer or moving home, there
could be a scheme for you.
These include:
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PART EXCHANGE
A number of house builders
operate Part Exchange schemes,
whereby they buy your existing
home from you for the market
value, allowing you to invest in
a new home.
The service aims to provide a
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taking away the hassle involved
in selling your own home. Part
exchanging means there’s no
chain involved and the vendor has
a guaranteed sale.
It also cuts out estate agents’ fees.
SHARED EQUITY
Many house builders offer low
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These are schemes whereby,
instead of paying 100% of the
property price, buyers can pay
up to 25% less while still owning
100% of their home. The builder
‘keeps’ the other share of the
house, meaning the person
buying only needs to get a
mortgage of say 75% of the value
of the home, meaning a smaller
deposit and mortgage.
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loan will need to be repaid,
often when the house is sold
or after a certain number of years,
but it allows people to get a foot
on the ladder.
THERE ARE MORE WAYS THAN
YOU THINK TO BUY NEW
FEAR NOT.
WAYS IN WHICH TO BUY NEW
HELP TO BUY PART EXCHANGE SHARED EQUITY
For more information about new homes,
please speak to a Sales Consultant or visit
SHARED OWNERSHIP CASE
STUDY
Sian never thought she would
ever be able to uy a property in
her home village of Hilmartin yet
it was something she had always
dreamed of. So naturally, when
she heard about a development
of new houses being built in the
local area and that some h mes
would be available through Shared
Ownership, it immediately grabbed
her interest. She had grown up
and lived almost all her life in
the charming Wiltshire village.
N w the 40-y ar-old veterinary
nurse want d to have a bit more
financial security for her two
daughters growing up, Lauren
and Abi. Buying n w house
through Shared Ownership meant
Sian would be able to afford the
mortgage on a three-bedroomed
house. As Sian said: “I bought a
40% share in the property and
the monthly payment ar r ally
affordable. Having a smaller
mortgage also means I’ll be able to
pay it off sooner.”
Something else Sian is delighted
with is living in a new build
property which is saving her even
more money. She explains: “It’s
eco-freindly so our monthly energy
bills are so much cheaper.” Sian is
just one example of how Shared
Ownership can help all kinds
of people get on the property
ladder when they can’t afford a full
mortgage all at once. Lauren and
Abi now have their wn bed ooms
as well as go to the local school
as Sian did herself many years
before. Shared Ownership helped
Sian realise her dream of having
her own home in the village she
grew up in. As with other Help to
Buy schemes, it’s no wonder many
house buyers are turning to Shared
Ownership to realise their own
dreams of buying a new house.
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“The afforda le new home
is now going to be more
readily available with the
announcement by the
Govern nt of increased
funding for Shared Ownership.
With mortgage finance that
only require a 5% deposit of
the share being purchased and
the opportunity to defer stamp
duty land tax, the keys to a
new home have seldom been
more affordable. For both first
time buyers as well as families
who need to trade up to a
larger home, shared ownership
can provide the answer for
those buyers who are otherwise
unable to afford to access the
open market for a new home.”
-Stephen Dwelley, Director
at Share to Buy
“Choosing a brand new home
can save buyers time, money
and stress. Housebuilders offer
a range of helpful incentives to
make moving much easier and
more affordable,such as Help
to Buy and Part Exchange.
With a brand new home,
there’s no worrying about
expensive repairs that often
come hand-in-hand with an
older property.
Modern energy-efficient central
heating, insulation and double-
glazing mean that a new home
is cheaper to run. A new-build
property could offer savings
of 73% on fuel bills compared
with an updated Victorian
house of a similar type.”
-Kevin Belsham, Sales and
Marketing Director
at Taylor Wimpey